The Eigen Foundation, the organization behind Ethereum restaking protocol EigenLayer, is launching another airdrop rewards wave.
In a Thursday post, the Foundation said that a total of approximately 86 million tokens will be released from September 17 in its “stakedrop” and go to users and contributors who have actively helped the project.
The “Season 2 stakedrop” will dish out 70 million tokens to those who staked and operated nodes. Ecosystem partners and the EigenLayer community will receive 10 million tokens, and another 6 million tokens will go to open source contributors, advocates, and others who supported the community from the beginning.
Today the @eigenfoundation announced the EIGEN Season 2 Stakedrop
This is a celebration of our incredible community - stakers, operators, partners, and early supporters - who continue to build and innovate with us. Stay tuned for claims, programmatic incentives, and more! ↓ https://t.co/cXLxD7e5w4
“We’re excited to reward those who have put in tremendous effort supporting EigenLayer from the start,” the post reads.
“Whether you joined hackathons, wrote blogs, engaged on Twitter and Discord, or are an open source developer who made open innovation possible today, your efforts have been important to our growth," it adds.
EigenLayer previously launched an airdrop back in May dubbed “Season 1.” It allocated 5% of the total token supply—over 1.6 billion tokens—to users who engaged in staking activities as of March 15.
The EIGEN token is not yet available for trading. The Foundation previously wrote in an FAQ that it hopes to achieve certain "product and decentralization milestones" before unlocking the token for trading and transfers, but that those milestones "are targeted to be completed by September 30." It's unclear if that estimate is still current.
The Ethereum Foundation says it’s readying an update on how it plans to address questions of ethics after two members of its core developer team took roles at a staking protocol—and were rewarded with valuable tokens.
“We are aware of the current conversation about potential conflicts of interest, and share the community’s concerns,” tweeted Aya Miyaguchi, Executive Director of the Ethereum Foundation, on Friday.
“It is clear that relying on culture and individual judgment has not been sufficien...
Airdrops are a way of attracting users to a new crypto project. A protocol will typically give out free tokens to previous and/or current users in the hopes that the community will grow and more people will flock to the project in the future.
EigenLayer is built upon Ethereum and is in the business of restaking—the ability to stake across multiple blockchains. The idea is that those who already stake Ethereum (ETH) can use the same staked coins on other protocols, with the goal of keeping them secure and earning additional rewards in the process.
Staking is the process of pledging crypto holdings to a network and earning yield in the process. Networks that use staking are called proof of stake blockchains. A number of top cryptocurrencies—Ethereum, Polkadot, and Cardano—use this consensus mechanism.
Top college football prospect Matai Tagoa’i is set to join football stars like Russell Okung, Odell Beckham Jr., and Trevor Lawrence by receiving his compensation in Bitcoin.
The linebacker will be paid part of his earnings via the Strike app after signing a “name, image, and likeness” (NIL) deal with the University of Southern California (USC).
The exact details of his package are not known, but some college football players, such as Shedeur Sanders, have received estimated payouts of up to $4....
The world’s largest asset manager BlackRock just debuted a new advertisement proselytizing the virtues of Bitcoin, but rather than cheer on the Bitcoin ETF issuer for its efforts, Bitcoiners aren’t happy.
The video, which is housed on the iShares Bitcoin Trust (IBIT) ETF page on BlackRock’s website, spends three minutes walking viewers through the evolution of money and key fundamentals of Bitcoin.
One of those fundamentals is Bitcoin’s 21 million fixed token supply.
While the video explains t...
El Salvador may have reached a deal with the International Monetary Fund that will see the tiny country scale back its Bitcoin law—but it’s still going to “HODL.” And it might even step up its BTC buys.
That’s according to Stacy Herbert, the head of El Salvador’s National Bitcoin Office, who wrote on X (formerly known as Twitter) Thursday that the country may even continue buying the cryptocurrency at an “accelerated pace” going forward.
El Salvador in 2021 made Bitcoin legal tender along with...
